Issue - decisions
RULE 16 Extending Cabinet delegation to enable Property disposal of Riverside and Loan to ACL
23/06/2017 - Extending Cabinet delegation to enable Property disposal of Riverside and Loan to ACL
The Cabinet Member approves:
An extension of the resolution of Cabinet dated 2 December 2015, relating to Aequus Developments Limited (ADL) so that reference to the “ company” includes reference to Aequss Construction Limited (ACL), a wholly owned subsidiary of ADL and in particular to permit :
- a transfer of the Lease of Riverside to ACL
- the extension of the delegated power in paragraph 7 (approval of Council investment) to enable the provision of the Loan to ACL.
3. the extension of the indemnity in paragraph 13 to Council members and officers appointed as directors of ACL